Envestnet Asset Management Inc. Cuts Position in Coty (NYSE:COTY)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Coty by 29.2% in Q1, owning 233,940 shares after selling 96,267 shares.
• Analysts have mixed opinions on Coty, with Canaccord Genuity lowering its price target to $5.00 and Bank of America downgrading the stock to an underperform rating with a target of $4.50.
• Coty's earnings report showed a miss on EPS estimates, with a reported $0.01 EPS against a $0.05 expectation and revenue down 6.2% year-over-year.

Envestnet Asset Management Inc. trimmed its holdings in shares of Coty (NYSE:COTY - Free Report) by 29.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,940 shares of the company's stock after selling 96,267 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Coty were worth $1,280,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COTY. LPL Financial LLC increased its position in Coty by 10.2% during the 4th quarter. LPL Financial LLC now owns 165,133 shares of the company's stock valued at $1,149,000 after purchasing an additional 15,300 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Coty by 10.8% during the fourth quarter. JPMorgan Chase & Co. now owns 823,552 shares of the company's stock valued at $5,732,000 after purchasing an additional 80,107 shares in the last quarter. Norges Bank purchased a new position in Coty during the fourth quarter valued at approximately $44,401,000. National Bank of Canada FI raised its stake in Coty by 13,101.7% in the fourth quarter. National Bank of Canada FI now owns 214,000 shares of the company's stock worth $1,489,000 after buying an additional 212,379 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. raised its stake in Coty by 12.7% in the fourth quarter. Savoir Faire Capital Management L.P. now owns 286,567 shares of the company's stock worth $1,995,000 after buying an additional 32,212 shares in the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

Coty Stock Performance

COTY stock traded down $0.13 during midday trading on Friday, reaching $4.72. The stock had a trading volume of 6,689,420 shares, compared to its average volume of 7,279,084. The stock has a market cap of $4.12 billion, a PE ratio of -9.83, a P/E/G ratio of 0.64 and a beta of 2.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.51 and a current ratio of 0.82. The firm has a fifty day simple moving average of $4.93 and a two-hundred day simple moving average of $5.40. Coty has a 52-week low of $4.46 and a 52-week high of $10.30.

Coty (NYSE:COTY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.04). Coty had a negative net margin of 6.60% and a positive return on equity of 5.61%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $0.05 earnings per share. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coty will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial cut Coty from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 17th. Citigroup dropped their price objective on Coty from $8.00 to $6.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada cut their target price on Coty from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Barclays decreased their price target on shares of Coty from $5.00 to $4.50 and set an "underweight" rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Coty from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.80.

Coty Company Profile

Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co brands.